1. Trump's Declaration of Support for Bitcoin as a Reserve Currency
If the incoming U.S. president publicly supports Bitcoin as a reserve currency, it would be a disruptive policy statement. Bitcoin, as a decentralized cryptocurrency, is fundamentally different from traditional fiat currency systems, and if adopted by the U.S. as an official reserve currency, it could have significant implications for global financial markets and the status of the dollar.
2. Powell's Response
Federal Reserve Chairman Powell emphasized that the U.S. currently lacks the legal framework to support Bitcoin as a reserve currency and stated that the Fed has no intention of seeking such legislation. This indicates that the Fed's stance remains aligned with traditional financial frameworks and that it holds a cautious attitude towards cryptocurrencies.
3. Market Reaction
Powell's negative comments led to a sharp decline in the cryptocurrency market, reflecting investors' sensitivity to policy uncertainty. The market anticipated that Trump might take action, but current legal and institutional constraints make this commitment difficult to realize.
4. Possibilities After Trump's Inauguration
If Trump pushes for related laws or policies after taking office, he may face resistance from Congress and regulatory bodies. Additionally, while his supportive comments on Bitcoin may attract some cryptocurrency enthusiasts, the specific implementation would still need to weigh multiple factors, including economic considerations, financial stability, and national security.
5. Investor Response Strategies
In the face of policy ambiguity, investors should:
Closely monitor the policy direction of the new U.S. government, especially changes at the legislative level.
Prepare for market volatility, such as setting reasonable investment goals and stop-loss points.
Diversify investments to reduce risk exposure to a single market or asset.
Overall, Trump's supportive statements may serve as a short-term catalyst, but market expectations require more substantial policy actions to materialize. If future policy advancements are insufficient, Bitcoin prices may face further volatility risks.
